GST rate hikes may come in phases to reduce price pains

Panel of officials looking at option of small hikes in lower rates or moving up items in tranches. There is a view that rate increases can be carried out in a benign manner, either through small increases in lower rates or by moving some items to a higher bracket in tranches. Currently, GST has 7 categories – exempt, 0.25%, 3%, 5%, 12%, 18% and 28%.

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